With just four hours to go before President Donald Trump's ultimatum to Iran expires, the cryptocurrency market saw a sharp short-term rally. Bitcoin surged past the $69,000 mark, while Ethereum rose to $2,100. Total liquidations across the market reached nearly $196 million in the past 24 hours.
Bitcoin Hits $69K, Ethereum Follows
As of 4:00 a.m. UTC+8 on April 8, Bitcoin demonstrated strong momentum, breaking above the $69,000 level in a short period. Ethereum also gained traction, hitting $2,100. The escalation of geopolitical tensions in the Middle East continues to weigh on global financial markets, mixing safe-haven demand with speculative sentiment.
Contract Market Bloodbath: 82K Liquidated, Largest Single Order $2.11M
The price volatility took a heavy toll on futures traders. According to CoinGlass, 81,982 traders were liquidated in the last 24 hours, with total liquidations amounting to $195.72 million. The largest single liquidation occurred on the HTX exchange in the BTC-USDT pair, valued at $2.11 million.
BlockTempo reminds investors that during periods of heightened geopolitical risk and frequent news shifts, crypto prices are prone to violent two-way spikes. Caution is advised when using leverage.